VirnetX Featured as Stock Pick of 2010 by KonLin Investment Letter
12 January 2010 - 11:30PM
PR Newswire (US)
SCOTTS VALLEY, Calif., Jan. 12 /PRNewswire-FirstCall/ -- VirnetX
Holding Corporation (NYSE Amex: VHC; http://www.virnetx.com/) a
secure real-time communications and collaboration technology
company based in Scotts Valley, CA, announced today that it has
been named the "Stock Pick of 2010" by the KonLin Letter, an
independent New York-based investment newsletter
(http://www.konlin.com/) published by KonLin Research &
Analysis. The investment letter cited the development stage company
as having 23 U.S. and International (Europe, Japan and Australia)
patents (with 28 more pending) in its portfolio and each patent has
a range of 40 to 60 claims tied to it, which are essential to 4G
and long-term evolution wireless security standards. In recognition
that the overall market for private and secure communications is
global, large and exponentially expanding, with the current IP
telephony market (in the U.S. alone estimated to be $49.5 billion),
the KonLin Letter also highlighted the following about VHC, stating
the ultimate target of low-teens: -- "Investors should realize the
importance and value of VHC's patents to the emerging mobility
market. The current IP telephony market in the U.S. alone is
estimated to be $49.5 billion. And with the inclusion of fixed
mobile convergence and IP services the estimate grew to nearly $150
billion by end of 2009, with much of this growth due to the
popularity of social networks, all built on unsecured networks, as
well as explosive mobile and Smartphone usage. In addition, the
rapid expansion of Cloud Computing, estimated at $56 billion in
2009 and growing to $150 billion in 2013, offers another rich
revenue opportunity for VHC as top level and real-time security is
vital to this burgeoning sector." -- "The VHC advantage is its
ownership of the key patents that are the foundation of the
collaborative communications arena. VHC expects to derive the
majority of its revenue from license fees and royalties associated
with these patents." -- Another VHC advantage, the KonLin Letter
noted, is recently being awarded two key patents so the company can
"establish and run a Secure Domain Name Registry. These dynamic
patents expand VHC's exclusive rights to set up and run such
service to enable automated secure connections across the
Internet." The value of VHC's patents to the emerging mobility
market, which is projected to have over 2.5 billion connected
devices by 2014 and 1 billion phones by 2013, is also getting the
attention of other recent investment reports. VHC was listed among
the "Best Performing U.S. Stocks" for the week ending January 9,
2010 by the NASD100.com - Daily Stock Rankings
(http://www.nasd100.com/). In the Dick Davis Digest,
(http://www.dickdavis.com/) January 6, 2010 (Volume 29, Issue 662)
VHC is also highlighted among the "Top Stock Picks for 2010" in
investment ideas from the best minds on Wall Street. In the
technology sector, the Davis Digest reports: The VHC "stock was
recommended at $2.06 and is heading for its first target of 5 to 6.
We would Add/Buy," in view of upcoming collaborations to "enable
the company to secure the next generation Internet. Ultimate target
low-teens." Dawson James Securities, an institutional research firm
based in Boca Raton, FL, reported in its Institutional Research
Technology Company Update (http://www.dawsonjames.com/) December
30, 2009 edition: It's "just the tip of the iceberg related to
VHC's secure network technology and that more announcements will
come in 2010" to secure other important partnerships. "We believe
VHC's shares have further appreciation potential, and thus we are
maintaining our Buy rating on VHC and 18 to 24-month price target
of $6.00, still below highs of just last year." To read the
complete KonLin Letter analysis of VirnetX, go to:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjU4ODd8Q2hpbGRJRD0
tMXxUeXBlPTM=&t=1 The opinions expressed in "The KonLin Letter"
are those of the analyst and not of VirnetX Holding Corporation.
VirnetX does not accept responsibility for the accuracy of any of
the information or statements contained in this report. For
information provided by VirnetX with respect to its business and
business prospects, as well as associated risks with an investment
in VirnetX's stock, please see the Company's reports filed with the
Securities and Exchange Commission, copies of which are available
at http://www.sec.gov/ and also on the Company's website
http://www.virnetx.com/ About "The KonLin Letter" "The KonLin
Letter" is a unique service that recommends 5 low priced selections
each month including a featured stock of the month, and reviews
30-35 different stocks while monitoring a broad range of technical
indicators for the best possible Market Timing Advice. For more
information go to http://www.konlin.com/ About VirnetX VirnetX
Holding Corporation, a secure real-time communications and
collaboration technology company, is engaged in commercializing its
patent portfolio by developing a licensing program, as well as
developing software products designed to create a secure
environment for real-time communications such as instant messaging
and Voice over Internet Protocol. The Company's patent portfolio
includes over 48 U.S. and international patents and pending
applications which provide the foundation for the Company's unique
GABRIEL Connection Technology. For more information, please visit
http://www.virnetx.com/ Safe Harbor Agreement Statements in this
press release that are not statements of historical or current fact
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes," "belief,"
"expects," "intends," "anticipates," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in the
Company's Annual Report on Form 10-K filed with the SEC on March
31, 2009 and most recently in the Company's Quarterly Report on
Form 10-Q filed with the SEC on November 9, 2009. Contact: Greg
Wood VirnetX Holding Corporation 831.438.8200 DATASOURCE: VirnetX
Holding Corporation CONTACT: Greg Wood, VirnetX Holding
Corporation, +1-831-438-8200, Web Site: http://www.virnetx.com/
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